What is business?
An organization or economic system where An organization or economic system where goods and services are exchanged for one another or for money.
What is a customer?
A person who buys goods or services from a shop or business.
What is a supplier?
Someone whose business is to supply a particular service or commodity.
What is a consumer?
A person who purchases goods and services for personal use.
What is market research?
The action or activity of gathering information about consumers' needs and preferences.
What is a primary research?
Primary research is any type of research that you go out and collect yourself.
Give some examples
Surveys, Interviews, Observations, and Ethnographic research.
What is a qualitative data?
Qualitative data is a categorical measurement expressed not in terms of numbers, but rather by means of a natural language description.
What is a quantative data?
Quantitative data is data that can be measured numerically. Things that can be measured precisely -- rather than through interpretation -- such as the number of attendees at an event, the temperature in a given location, or a person's height in inches can be considered quantitative data.
CHAPTER 3-Market Mapping
What is a market map?
A representation of categories of current or potential customers for a good or service based on demographics, geography and other factors.